Third Point Management Activist Presentation Deck

DIVIDEND GROWTH HAS ALSO STALLED AND PAYOUT RATIO HAS MOVED HIGHER THIRD POINT Dividend now only growing -2% Nestlé dividend per share and dividend growth Nestle 3 2 1 0 '07 '08 09 10 11 12 13 14 '15 16 17 20% 15% 10% 5% 0% Dividend now nearly 2/3 of EPS Nestlé dividend payout ratio, % 80% 60% 40% 20% 38% 2007 61% Note: Historical financials updated for restatements where applicable. Source: Third Point LLC; Nestlé company materials; Bloomberg 2012 65% 2017 9

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